The Organisation for Economic Co-operation and Development (OECD) announced that its composite leading indicators (CLIs) continue to point to a stable pace of expansion in the OECD area.

The indicators point to stable growth momentum in Japan, Canada and in the euro area as a whole. However, in the United States, the United Kingdom and Italy tentative signs are emerging that growth may be easing.

The OECD barometer also anticipates that growth is gaining momentum in Germany and France.

Amongst major emerging economies, the CLI for Brazil continues to signal growth gaining momentum with similar signs now emerging in China. In India, the CLI points to stable growth momentum, while tentative signs of easing growth are emerging in Russia.